Closing Bell Overtime: Markets Rebound, Boosted By Regional Banks; Legendary Investor Mario Gabelli on Defense, Industrials and the Consumer. 3/14/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 14 March 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Dow snapped a 5-day losing streak and the Nasdaq posted back-to-back gains. Regional banks finished sharply higher. Nuveen’s Saira Malik gives her take on this morning’s inflation report while Annandale Capital’s George Seay discussed why he still likes Meta and Apple. A US/Russian confrontation over the Black Sea briefly caused markets to tumble; former Defense Secretary Mark Esper gives his take on how the two nations can reconcile. Legendary investor Mario Gabelli discusses what stocks he likes now, including some names in defense and the consumer. Cadre Executive Chairman Ryan Williams discusses the ripple effects from rising rent costs on commercial and residential real estate. Plus, what earnings from Lennar reveal about the consumer and the economy and why bitcoin is rallying despite negative headwinds.

Transcript

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0:00.0	That is the scorecard on wall street, but the action is the scorecard on Wall Street, but the action is just getting started.
0:10.0	Welcome to closing bell overtime. I'm Morgan Brennan with John Fort.
0:13.0	Coming up on today's show, billionaire investor Mario Gabelli joins us exclusively with his
0:17.8	thoughts on the market, M&A, and top ideas right now.
0:21.8	Plus, a key read on rates and housing
0:24.8	when we get results from Lenar,
0:26.2	the country's second largest home building.
0:28.4	Let's get straight into today's market action
0:30.0	with our first guest.
0:31.0	Joining us now is Sarah Malik, Chief Investment Officer at Newveen.
0:34.8	Great to have you on a lot of cross currents today.
0:36.8	You had CPI that was largely in line with expectations.
0:40.4	You have all this debate about what the Fed's going to do.
0:42.3	You got bank stocks rallying and then to top it off this afternoon
0:45.6	Some geopolitics entering the fray and digging stocks for a short while.
0:49.4	Your take on the market right now and where we go from here.
0:54.0	We saw a relief rally today for two reasons and that some stability in the banking sector
0:58.6	and a CPI that wasn't surprising, but I don't think we're out of the woods yet just looking at the banking sector
1:03.8	that was already dealing with the repercussions of higher interest rates and the impact
1:08.0	on that interest margins and now after the Silicon Valley Bank debacle.
1:12.6	We're going to be looking at potential capital raises,
1:14.7	tighter regulations, and most importantly,
	...

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